- USD rally testing near-term resistance- Yen crosses in focus
- Updated targets & invalidation levels
- Looking for trade ideas? Review DailyFX’s 2016 4Q Projections
The USD Index (DXY) is testing the 2016 open as resistance as the EURUSD tests its yearly open as support. We’ll be looking for some back-and-fill to start off the week with the immediate topside bias at risk near-term. The yen crosses of particular interest with the EURJPY & NZDJPY setups highlighted last week in focus.
Key technical setups discussed on DXY, NZDJPY, EURJPY, AUDNZD, DAX, Crude Oil, Silver, Gold, EURUSD, EURCAD, USDCAD, and AUDJPY. The economic docket this week is highlighted by Aussie CPI and UK & U.S. GDP. Continue tracking these setups and more throughout the week- Subscribe to SB Trade Desk and take advantage of the DailyFX New Subscriber Discount.
Relevant Data Releases
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Other Setups in Play:
- NZD/JPY Signals Near-term Exhaustion Ahead of Key Resistance
- EUR/JPY Targeting Key Support Ahead of ECB
- USD/CAD at Risk for Further Losses on Wait-and-See BoC
- AUD/NZD Approaches Key Slope of Influence- Longs at Risk Sub-1.0786
---Written by Michael Boutros, Currency Strategist with DailyFX